Azerbaijan, Baku, Feb. 10 / Trend , N.Ismayilova/
The Bourse E-system of trades-BEST of the Baku Inter-bank Stock Exchange (BBVB) registered deals on SWAP USD/AZN tool with 30-day term, the exchange said on Feb. 10. Deals cost $30 million.
Weight average exchange rate totaled 0.8093 manats to $1.
Currency swap is a pair of counter transactions for buying and selling foreign currency in the same volume with different dates of delivery.
Operation on SWAP USD/AZN tool was launched at the BEST on June 16 in 2005. BBVB's commission fees on currency swap was 0.005 percent which is by 6 times less than the current fee on spot-tools. Fee is charged on deal at morning and afternoon sessions in line with existing order. Fee is charged only one time from both sides on deal signing day. This considerably decreases banks' expenses.
Currency swap operation grants needed tool banks to manage with the current liquidity.
On Feb.10, the official exchange rate is 0.8077 manat to $1.
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